Indiabulls Ltd Allots 51.55 Cr Warrants to Promoters, Non-Promoters

Indiabulls Ltd has announced the allotment of 51,55,00,000 convertible warrants to promoter group entities (Phanes Limited, Hermes Limited) and non-promoter group entities (EBISU Global Opportunities Fund Limited, Nyaasa Global Fund VCC – Nyaasa India EM Sub Fund). The allotment is part of a preferential issue at an issue price of INR 19.40 per warrant. The company has received INR 250,01,75,000, representing 25% of the issue price, as subscription money. These warrants are convertible into equity shares of face value INR 2 each within 18 months upon receipt of the balance subscription amount.